XMReality AB:s CEO, Jörgen Remmelg has participated in an interview with Erik Penser Bank
Jörgen Remmelg, CEO of XMReality AB (publ) (”XMReality” or the ”Company”) has participated in an interview with Erik Penser Bank in connection with the ongoing rights issue. Jörgen talks about the Company’s improved product and its financial targets.
Previously this year, the Company launched a new updated version of the Company's AR-product with additional product functions that enable, among other things, the scheduling of group calls and that you can now be up to 20 people in a single call. The new product functions have already generated follow-up orders from the Company's existing customers, which creates good conditions for reaching the Company's communicated financial targets of starting to generate positive cash flow at the end of 2024, an ARR of SEK 75 million in 2025 with an associated EBITDA of 15 percent.
The company is now carrying out a rights issue of units for an initial amount of approximately SEK 20.3 million where subscribers receive free warrants with a subscription period in May 2023. In connection with the rights issue, the Company communicated that the board of the company has decided to carry out a directed issue to external investors of a total of approximately 5,9 MSEK as well as taking out a long-term bank loan of 5 MSEK.
The issue proceeds will be used for continued marketing efforts to existing and new customers both in Europe and the USA as well as to continue developing the product with additional functions.
You can see the entire interview here, https://youtu.be/4Fp48N-mco4
Advisors
Erik Penser Bank AB is the financial advisor and Ramberg Advokater KB is the legal advisor to XMReality in connection with the Rights Issue.
For more information, please contact:
Jörgen Remmelg, CEO XMReality
Phone: +46 739 822 409
E-mail: jorgen.remmelg@xmreality.se
About XMReality Remote Guidance™
XMReality Remote Guidance is an AR-enabled knowledge sharing tool that lets you communicate with gestures, speech, chat and pointers with someone at a completely different place. It includes:
- A unique hands-overlay technology that lets you guide someone else’s hands—as if you were there.
- A web portal to manage teams and users, and to measure usage
- Integration through client-side API’s (Application Programming Interfaces)
About XMReality
XMReality AB (publ) develops and sells solutions that revolutionize knowledge transfer through so-called Augmented Reality (AR). The company is a market leader in remote guidance where you guide a person on site via AR to solve problems or prevent them from occurring. The product is used globally in more than 60 countries. Nestlé, Electrolux, Sidel, Heineken and Saab are examples of the more than 125 customers. XMReality is based in Linköping and in the U.S. and is listed on the Nasdaq First North Growth Market (ticker: XMR). For more information, visit: www.xmreality.com
XMReality's Certified Adviser is Redeye AB
www.redeye.se
